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Regulatory Reform

Cadwalader, Wickersham & Taft LLP

Certainty and Uncertainty, May 2025 - Passive Trusts in Maryland — Progress Regarding the Emergency Regulations

As we reported previously, the Maryland Office of Financial Regulation (“OFR”) issued emergency regulations this past January which indicated that passive trusts holding residential mortgage loans, even those used as part of...more

K&L Gates LLP

Private Equity in Australia: Upcoming Mandatory Merger Laws and Foreign Investment Changes

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WHAT’S ON THE AUSTRALIAN REGULATORY HORIZON? In this publication, we provide an overview of certain upcoming changes for private equity funds and their investors (both Australian and foreign) investing in Australia....more

Jones Day

Commission Opens Pathway for Environmental NGOs to Challenge State Aid

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The European Commission revised the Code of Best Practices for the conduct of State aid control procedures. The revised Code opens a pathway for NGOs to challenge State aid decisions on EU environmental law grounds....more

Jones Day

Amending the CSRD and CS3D: EU's New Proposed Changes Would Fix Legal Loopholes

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The EU ESG rules are undergoing extensive revision as part of the EU's “Omnibus” process that began with the European Commission's release in February 2025 of a set of amendments and has already resulted so far in a two-year...more

Venable LLP

New Trump Executive Order Dismantles Disparate Impact Liability

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On April 23, President Trump issued an executive order, "Restoring Equality of Opportunity and Meritocracy" (EO), intending to abolish a longstanding liability theory for workplace discrimination claims. Emphasizing the need...more

Seyfarth Shaw LLP

California Senate Bill Seeks to Curb Cookie-Related CIPA Litigation

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California Senate Bill 690 (SB 690), introduced by Senator Anna Caballero, is continuing to proceed through the California state legislative process. The proposed bill would amend the California Invasion of Privacy Act (CIPA)...more

Ballard Spahr LLP

PFAS in Biosolids: Washington State Adopts Testing Requirement

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Washington state has joined the growing list of states addressing the presence of per- and polyfluoroalkyl substances (PFAS), commonly known as “forever chemicals,” in biosolids that are widely used in farming. With Governor...more

Jones Day

Georgia Limits Liability for Pesticide Manufacturers

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This week, Georgia's governor signed a new pesticide labeling and liability act (SB 144) ("Act"), amending state law to limit the scope of pesticide manufacturer liability for failure to warn and aligning the state standards...more

Akin Gump Strauss Hauer & Feld LLP

CFIUS Announces Fast Track Pilot Program for Certain Investors

On May 8, 2025, the U.S. Department of the Treasury (Treasury) announced plans to establish a “fast-track” review process for the Committee on Foreign Investment in the United States (CFIUS). This initiative implements a key...more

Husch Blackwell LLP

Big News in AI Policy: Proposed 10-Year Moratorium on State AI Regulation

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Artificial intelligence (AI) continues to dominate headlines—not just for its technological leaps, but also for the policies shaping its future. In a major development, a new Republican-backed tax bill, released by the House...more

Ballard Spahr LLP

CFPB rescinds 67 guidance documents

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Contending that policies implemented by guidance represent an unfair regulatory burden and might be contrary to federal law, the CFPB is rescinding 67 guidance documents  issued since the bureau began operating in 2011....more

Seyfarth Shaw LLP

Parity in Peril? Plan Sponsors Breathe Easier As Trump Administration Hits Pause on Enforcement of Mental Health Parity Final Rule

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On May 15, 2025 the Departments of Labor, Health and Human Services, and Treasury (the “Departments”) announced they will temporarily not enforce their new standards published under the mental health parity Final Rule last...more

Orrick, Herrington & Sutcliffe LLP

Acting Comptroller discusses importance of financial inclusion

On May 8, Acting Comptroller of the Currency Rodney E. Hood spoke on his four priority areas: financial inclusion, reducing regulatory burdens, bank-fintech partnerships, and digital assets. He emphasized that financial...more

Troutman Pepper Locke

PFAS Regulatory Landscape Update — The Message? Stay Tuned.

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The Environmental Protection Agency (EPA) has announced several actions in recent weeks that shed light on the Trump administration’s approach to PFAS regulation....more

Orrick, Herrington & Sutcliffe LLP

President Trump repeals two CFPB rules

On May 9, President Donald Trump repealed two CFPB rules which were brought under the previous administration. The first action repealed the CFPB’s overdraft lending rule (S. J. Res. 18), which would have capped overdraft...more

Hogan Lovells

White House Issues Executive Order Limiting Criminal Enforcement of Regulatory Offenses

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On May 9, 2025, the White House issued an Executive Order, “Fighting Overcriminalization in Federal Regulations,” that seeks to place limits on the criminal enforcement of regulatory offenses, particularly those that impose...more

Orrick, Herrington & Sutcliffe LLP

CFPB withdraws EFT interpretive rule

On May 15, the CFPB published a Federal Register notice withdrawing its proposed interpretive rule on EFTs titled “Electronic Fund Transfers Through Accounts Established Primarily for Personal, Family, or Household Purposes...more

Orrick, Herrington & Sutcliffe LLP

CFPB withdraws notice on certain contract terms, citing duplication

On May 15, the CFPB published a Federal Register notice withdrawing its proposed rule regarding prohibited terms and conditions in agreements for consumer financial products or services under Regulation AA. The withdrawal...more

Orrick, Herrington & Sutcliffe LLP

OCC to restore its streamlined Bank Merger Act regulations

On May 8, the OCC adopted an interim final rule to restore streamlined application and review procedures under the Bank Merger Act. The rule aims to provide clearer guidelines for institutions regarding the OCC’s review...more

Hogan Lovells

Politics of housing in Germany

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As of 6 May 2025 Germany has a new government. After intensive coalition negotiations, CDU/CSU and SPD agreed on a joint housing policy in their coalition agreement, combining and developing elements of both manifestos under...more

Orrick, Herrington & Sutcliffe LLP

CFPB withdraws its proposed rule on data brokers

On May 15, the CFPB published a Federal Register notice withdrawing its proposed rule on Protecting Americans from Harmful Data Broker Practices (Regulation V). The Bureau decided that this rulemaking was not necessary at...more

Orrick, Herrington & Sutcliffe LLP

CFPB proposes to rescind amendments to nonbank supervision

On May 14, the CFPB published a Federal Register notice withdrawing its proposed rule on the Procedures for Supervisory Designation Proceedings. These amendments were each codified in 12 C.F.R. 1091. As previously covered by...more

Allen Matkins

California Environmental Law & Policy Update 5.16.25

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The U.S. Environmental Protection Agency (EPA) will rescind much of the Biden administration’s first nationwide drinking water standard aimed at protecting people from PFAS, which are found in hundreds of consumer and...more

Sheppard Mullin Richter & Hampton LLP

Throwing Away the Toaster: Where AI Controls Are Now and May be Heading

Anyhow, on a possibly related note, on May 14, 2025, BIS announced that it will rescind the AI Diffusion Rule and that, until the time of the official recission, would not enforce the Biden-era regulation. Stop-Gap Stopped...more

A&O Shearman

Council of EU agrees position on move to T+1

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The Council of the European Union has approved its position on the European Commission's (EC) proposal regarding a shorter settlement cycle, shortening the settlement period for transactions in transferable securities from...more

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